Copenhagen, 2013-12-19 10:34 CET (GLOBE NEWSWIRE) --
On 18 November 2013, ISS announced an excess proceeds offer and a conditional partial redemption of the remaining EUR 349.5 million principal amount outstanding of its 8.875% Senior Subordinated Notes due 2016 (the “Notes”), using divestment proceeds to repay the most expensive part of ISS’ debt.
The excess proceeds offer period expired on 18 December 2013. ISS will repay an aggregate principal amount of EUR 4,884,362 of Notes pursuant to the excess proceeds offer. Furthermore, ISS will redeem an aggregate principal amount of EUR 88,310,000 of Notes pursuant to the partial redemption. Upon the settlement of the excess proceeds offer and the partial redemption of the Notes on Friday, 20 December 2013, an aggregate principal amount of EUR 256,329,639 of Notes will remain outstanding.
Heine Dalsgaard, Group CFO, ISS A/S, said:
“With the continued focus on divestment of non-core activities we once again repay part of our most expensive debt with divestment proceeds. This year alone we have repaid DKK 2.4 billion worth of Notes, which in total will eliminate DKK 215 million in annual interest expenses. The repayment provides a basis for further strengthening and deleveraging the financial position of ISS going forward.”
Please find further details attached.
For media enquiries
Kenth Kærhøg, Head of Group Communications, +45 38 17 62 05
Manuel Vigilius, Global Media Relations Manager, +45 38 17 64 04
For investor enquiries
Barbara Plucnar Jensen, Head of Group Treasury, +45 38 17 62 60
Martin Kjær Hansen, Treasury Manager, +45 38 17 64 31
The ISS Group was founded in Copenhagen in 1901 and has grown to become one of the world’s leading Facility Services companies. ISS offers a wide range of services such as: Cleaning, Catering, Security, Property and Support Services as well as Facility Management. Global revenue amounted to almost DKK 80 billion in 2012 and ISS has more than 530,000 employees and local operations in more than 50 countries across Europe, Asia, North America, Latin America and Pacific, serving thousands of both public and private sector customers. For more information on the ISS Group, visit www.issworld.com.
ISS A/S, CVR 28 50 47 99, ISIN XS0253470644
ISS Global A/S, ISIN XS0206714247
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